Tata Steel Q2 Results: Firm Swings Back To Black With Rs 759-Crore Profit, Beats Estimates

Tata Steel Ltd. swung back into the black with a net profit of Rs 759 crore in the quarter ended Sept. 30, as per the financial results declared by the steelmaker on Wednesday.

In the year-ago period, Tata Steel had posted a net loss of Rs 6,511 crore. The company's net profit in the quarter under review has beaten the Rs 452-crore consensus estimate of analysts polled by Bloomberg.

Revenue down 3% to Rs 53,905 crore versus Rs 55,682 crore (Bloomberg estimate: Rs 53,104.33 crore).

Ebitda up 44% at Rs 6,141 crore versus Rs 4,268 crore (Bloomberg estimate: Rs 5,345 crore).

Margins at 11.4%% versus 7.7% (Bloomberg estimate: 10.1%).

Net Profit of Rs 759 crore versus Rs 6,511-crore loss (Bloomberg estimate: Rs 452 crore).

The results were declared after the market hours. Shares of Tata Steel had closed 1% higher at Rs 153.81 apiece on the NSE, compared to a 1.12% climb in the benchmark Nifty 50.

(This is a developing story).